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https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-232/3786/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 232 - Suits Against Corporations, Directors, Officers or Stockholders (§§ 3781 — 3790)›§ 3786 - Derivative action | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 232 - Suits Against Corporations, Directors, Officers or Stockholders (§§ 3781 — 3790) › § 3786 - Derivative action | In any derivative suit instituted by a stockholder of a corporation organized under the laws of the Commonwealth, it shall be averred in the complaint that the plaintiff was a stockholder of the corporation at the time of the transaction of which such stockholder complains or that such stockholder’s stock thereafter de... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-232/3787/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 232 - Suits Against Corporations, Directors, Officers or Stockholders (§§ 3781 — 3790)›§ 3787 - Effect of liability of corporation; im... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 232 - Suits Against Corporations, Directors, Officers or Stockholders (§§ 3781 — 3790) › § 3787 - Effect of liability of corporation; impairment of certain transactions | The liability of a corporation organized under the laws of the Commonwealth, or the stockholders, directors or officers thereof, or the rights or remedies of the creditors thereof, or of persons doing or transacting business with the corporation, shall not in any way be lessened or impaired by the sale of its assets, o... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-232/3788/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 232 - Suits Against Corporations, Directors, Officers or Stockholders (§§ 3781 — 3790)›§ 3788 - Defective organization ofcorporation a... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 232 - Suits Against Corporations, Directors, Officers or Stockholders (§§ 3781 — 3790) › § 3788 - Defective organization ofcorporation as defense | (a) No corporation organized in accordance with this subtitle or organized pursuant to the laws of the Commonwealth shall be permitted to assert or maintain the want of legal organization as a defense in any litigation against the corporation. No person who is sued by the corporation shall be permitted to assert as a d... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-232/3789/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 232 - Suits Against Corporations, Directors, Officers or Stockholders (§§ 3781 — 3790)›§ 3789 - Usury; pleading by corporation | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 232 - Suits Against Corporations, Directors, Officers or Stockholders (§§ 3781 — 3790) › § 3789 - Usury; pleading by corporation | Notwithstanding any limitation or penalty established by law, any corporation which takes money on loan may contract, incur liabilities and take money on loan, whether in the Commonwealth or in any other jurisdiction, at any interest rate which it deems acceptable. No debtor of this class, whether a domestic corporatio... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-232/3790/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 232 - Suits Against Corporations, Directors, Officers or Stockholders (§§ 3781 — 3790)›§ 3790 - Legal standing, nonprofit corporations | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 232 - Suits Against Corporations, Directors, Officers or Stockholders (§§ 3781 — 3790) › § 3790 - Legal standing, nonprofit corporations | For the purpose of vindicating the interests of nonprofit corporations against wrongful actions of their directors or administrators, in addition to the legal standing set forth in § 3713 of this title to the Secretary of Justice, the members of such corporations shall also have legal standing to resort to the courts i... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-233/3801/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 233 - Foreign Corporations (§§ 3801 — 3815)›§ 3801 - Definition; qualifications to do business in Puerto Rico; procedure | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 233 - Foreign Corporations (§§ 3801 — 3815) › § 3801 - Definition; qualifications to do business in Puerto Rico; procedure | (a) As used in this subtitle, the term “foreign corporation” shall mean a corporation organized in accordance with the laws of any jurisdiction other than the Commonwealth.
(b) No foreign corporation shall do any business in Puerto Rico, directly or through an agent or representative located in Puerto Rico, until it ha... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-233/3802/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 233 - Foreign Corporations (§§ 3801 — 3815)›§ 3802 - Banking powers denied | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 233 - Foreign Corporations (§§ 3801 — 3815) › § 3802 - Banking powers denied | (a) No foreign corporation shall, within the limits of the Commonwealth, by any implication or construction, be deemed to possess the power of discounting bills, notes or other evidence of debt, of receiving deposits, of buying and selling bills of exchange, or of issuing bills, notes or other evidences of debt upon lo... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-233/3803/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 233 - Foreign Corporations (§§ 3801 — 3815)›§ 3803 - Consequences for doing business without having complied with the requirements the... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 233 - Foreign Corporations (§§ 3801 — 3815) › § 3803 - Consequences for doing business without having complied with the requirements therefor | (a) Any foreign corporation required to comply with the provisions of §§ 3801 and 3807 of this title, that has been doing business in the Commonwealth without authorization, may not initiate any proceeding in any court of the Commonwealth, until such corporation has been authorized to do business in this jurisdiction a... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-233/3804/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 233 - Foreign Corporations (§§ 3801 — 3815)›§ 3804 - Foreign corporations doing business without having qualified; injunctions | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 233 - Foreign Corporations (§§ 3801 — 3815) › § 3804 - Foreign corporations doing business without having qualified; injunctions | The Court of First Instance shall have jurisdiction to enjoin any foreign corporation, or any agent thereof, from transacting any business in this jurisdiction if such corporation has failed to comply with any section of this subchapter applicable to it or if such corporation has secured a certificate of the Secretary ... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-233/3805/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 233 - Foreign Corporations (§§ 3801 — 3815)›§ 3805 - Activities not constituting business transactions in the Commonwealth | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 233 - Foreign Corporations (§§ 3801 — 3815) › § 3805 - Activities not constituting business transactions in the Commonwealth | (a) The following activities, without this list being thorough, shall not constitute doing business transactions in the Commonwealth:
(1) Initiate, defend or settle any judicial process.
(2) Conduct meetings of the board of directors, or shareholders, or other activities related to the internal corporate affairs.
(3) H... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-233/3806/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 233 - Foreign Corporations (§§ 3801 — 3815)›§ 3806 - Effect of the certificate of authorization | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 233 - Foreign Corporations (§§ 3801 — 3815) › § 3806 - Effect of the certificate of authorization | (a) The certificate of authorization empowers the foreign corporation to which it is issued to do business in the Commonwealth, subject to the right of the Commonwealth to revoke such certificate of authorization pursuant to the provisions of this subtitle.
(b) Every foreign corporation with a valid certificate of auth... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-233/3807/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 233 - Foreign Corporations (§§ 3801 — 3815)›§ 3807 - Additional requirements in case of change of name, change of business purpose or ... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 233 - Foreign Corporations (§§ 3801 — 3815) › § 3807 - Additional requirements in case of change of name, change of business purpose or merger or consolidation | (a) Every foreign corporation admitted to do business in the Commonwealth which shall change its corporate name, or enlarge, limit or otherwise change the business which it proposes to do in the Commonwealth, shall, within thirty (30) days after the time said change becomes effective, file with the Department of State ... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-233/3808/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 233 - Foreign Corporations (§§ 3801 — 3815)›§ 3808 - Books to be kept by the foreign corporation | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 233 - Foreign Corporations (§§ 3801 — 3815) › § 3808 - Books to be kept by the foreign corporation | (a) Every foreign corporation authorized to do business in the Commonwealth must keep and maintain in the Commonwealth such accounting books, documents and records (including inventory records) which according to accepted accounting practices are sufficient to:
(1) Clearly establish the amount of gross income and deduc... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-233/3809/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 233 - Foreign Corporations (§§ 3801 — 3815)›§ 3809 - Annual report | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 233 - Foreign Corporations (§§ 3801 — 3815) › § 3809 - Annual report | Every foreign corporation, for profit or nonprofit, authorized to transact business in Puerto Rico shall render a report pursuant to the provisions of Chapter 235 of this subtitle.
History —Dec. 16, 2009, No. 164, § 13.09. |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-233/3810/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 233 - Foreign Corporations (§§ 3801 — 3815)›§ 3810 - Registered office and change of registered agent of a foreign corporation | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 233 - Foreign Corporations (§§ 3801 — 3815) › § 3810 - Registered office and change of registered agent of a foreign corporation | (a) Every corporation authorized to do business in the Commonwealth shall continuously maintain a registered office and a registered agent in the Commonwealth, as provided in Chapter 223 of this subtitle.
(b) Any foreign corporation authorized to do business in the Commonwealth may change or substitute its registered a... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-233/3811/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 233 - Foreign Corporations (§§ 3801 — 3815)›§ 3811 - Service of process on a foreign corporation | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 233 - Foreign Corporations (§§ 3801 — 3815) › § 3811 - Service of process on a foreign corporation | (a) The registered agent of a foreign corporation authorized to do business in the Commonwealth shall be the agent of the corporation for purposes of any service of process on the foreign corporation, or delivery to such corporation of every order, notice or claim required or permitted by law. If there be no such agent... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-233/3812/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 233 - Foreign Corporations (§§ 3801 — 3815)›§ 3812 - Withdrawal of a foreign corporation from the Commonwealth; procedure; subsequent ... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 233 - Foreign Corporations (§§ 3801 — 3815) › § 3812 - Withdrawal of a foreign corporation from the Commonwealth; procedure; subsequent service of process | (a) Any foreign corporation which shall have qualified to do business in the Commonwealth under § 3801 of this title, may surrender its authority to do business in the Commonwealth and may withdraw therefrom by filing with the Secretary of State:
(1) A certificate executed in accordance with § 3503 of this title statin... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-233/3813/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 233 - Foreign Corporations (§§ 3801 — 3815)›§ 3813 - Service of process on a nonqualifying foreign corporation | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 233 - Foreign Corporations (§§ 3801 — 3815) › § 3813 - Service of process on a nonqualifying foreign corporation | (a) Any foreign corporation doing business in the Commonwealth without having authorization to do so pursuant to § 3801 of this title, shall be deemed to have thereby appointed and constituted the Secretary of State as its agent for the acceptance of legal process in any action, suit or proceeding against it in any cou... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-233/3814/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 233 - Foreign Corporations (§§ 3801 — 3815)›§ 3814 - Violations and penalties; revocation | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 233 - Foreign Corporations (§§ 3801 — 3815) › § 3814 - Violations and penalties; revocation | (a) Any foreign corporation who violates the provisions of this chapter shall be fined not less than two hundred dollars ($200) for each violation, except for any violations to § 3809 of this title, which shall be addressed as provided in Chapter 235 of this subtitle.
(b) Any agent of any foreign corporation that shall... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-233/3815/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 233 - Foreign Corporations (§§ 3801 — 3815)›§ 3815 - Revocation proceeding and effect thereof | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 233 - Foreign Corporations (§§ 3801 — 3815) › § 3815 - Revocation proceeding and effect thereof | (a) If the Secretary of State shall determine that there exist one (1) or more grounds to revoke the certificate of authorization, in accordance with § 3814 of this title, he/she shall deliver to the foreign corporation a written notice of its determination in accordance with § 3811 of this title.
(b) If within a term ... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-234/3821/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 234 - Close Corporations (§§ 3821 — 3839)›§ 3821 - Law governing close corporations | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 234 - Close Corporations (§§ 3821 — 3839) › § 3821 - Law governing close corporations | (a) This chapter governs all close corporations, as defined in § 3823 of this title. Unless a corporation elects to become a close corporation under and in the manner prescribed in this chapter, it shall be subject in all respects to the provisions of this subtitle, except as provided in this chapter.
(b) The provision... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-234/3822/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 234 - Close Corporations (§§ 3821 — 3839)›§ 3822 - Effect of this chapter on other laws | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 234 - Close Corporations (§§ 3821 — 3839) › § 3822 - Effect of this chapter on other laws | This chapter shall not be deemed to repeal any statute or provision of law which governs or may govern any corporation organized pursuant to this subtitle that is not a close corporation.
History —Dec. 16, 2009, No. 164, § 14.02. |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-234/3823/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 234 - Close Corporations (§§ 3821 — 3839)›§ 3823 - Close corporation, definition, contents of certificate of incorporation | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 234 - Close Corporations (§§ 3821 — 3839) › § 3823 - Close corporation, definition, contents of certificate of incorporation | (a) A close corporation is a corporation organized under this subtitle whose certificate of incorporation contains the provisions required by § 3502 of this title and, in addition, provides that:
(1) All of the corporation’s issued stock of all classes, exclusive of treasury shares, shall be represented by certificates... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-234/3824/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 234 - Close Corporations (§§ 3821 — 3839)›§ 3824 - Incorporation of close corporations | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 234 - Close Corporations (§§ 3821 — 3839) › § 3824 - Incorporation of close corporations | A close corporation shall be incorporated pursuant to §§ 3501—3503 of this title, except that:
(a) Its certificate of incorporation shall contain a heading stating the name of the corporation and that it is a close corporation, and
(b) its certificate of incorporation shall contain the provisions required by § 3823 of ... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-234/3825/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 234 - Close Corporations (§§ 3821 — 3839)›§ 3825 - Election of existing corporation to become a close corporation | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 234 - Close Corporations (§§ 3821 — 3839) › § 3825 - Election of existing corporation to become a close corporation | Any corporation organized under the provisions of this subtitle may become a close corporation as provided in this chapter by executing, authenticating, filing, and recording a certificate of amendment to its certificate of incorporation, pursuant to § 3503 of this title, which shall contain the following:
(a) A statem... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-234/3826/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 234 - Close Corporations (§§ 3821 — 3839)›§ 3826 - Issuance or transfer of stock of a close corporation in breach of qualifying condit... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 234 - Close Corporations (§§ 3821 — 3839) › § 3826 - Issuance or transfer of stock of a close corporation in breach of qualifying conditions | (a) If stock of a close corporation is issued or transferred to any person who is not entitled under any provision of the certificate of incorporation permitted by § 3823(b) of this title to be a holder of record of stock of such corporation; and if the certificate for such stock conspicuously notes the qualifications ... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-234/3827/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 234 - Close Corporations (§§ 3821 — 3839)›§ 3827 - Corporate option where a restriction on transfer of a security is held invalid | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 234 - Close Corporations (§§ 3821 — 3839) › § 3827 - Corporate option where a restriction on transfer of a security is held invalid | If a restriction on transfer of a security of a close corporation is held not to be authorized by § 3622 of this title, the corporation shall nevertheless have an option, for a period of thirty (30) days after the judgment setting aside the restriction becomes final, to acquire the restricted security at a price which ... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-234/3828/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 234 - Close Corporations (§§ 3821 — 3839)›§ 3828 - Management by stockholders | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 234 - Close Corporations (§§ 3821 — 3839) › § 3828 - Management by stockholders | The certificate of incorporation of a close corporation may provide that the business of the corporation shall be managed by the stockholders of the corporation rather than by a board of directors. So long as this provision continues in effect:
(a) No meeting of stockholders need be called to elect directors;
(b) unles... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-234/3829/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 234 - Close Corporations (§§ 3821 — 3839)›§ 3829 - Agreements restricting discretionary powers of directors | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 234 - Close Corporations (§§ 3821 — 3839) › § 3829 - Agreements restricting discretionary powers of directors | A written agreement among the stockholders of a close corporation holding a majority of the issued and outstanding stock entitled to vote, whether solely among themselves or with a party not a stockholder, is not invalid, as between the parties to the agreement, on the ground that it so relates to the conduct of the bu... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-234/3830/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 234 - Close Corporations (§§ 3821 — 3839)›§ 3830 - Operating corporation as partnership | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 234 - Close Corporations (§§ 3821 — 3839) › § 3830 - Operating corporation as partnership | No written agreement among stockholders of a close corporation, nor any provision of the certificate of incorporation or of the bylaws of the corporation, which agreement or provision relates to any phase of the affairs of such corporation, including but not limited to the management of its business or declaration and ... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-234/3831/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 234 - Close Corporations (§§ 3821 — 3839)›§ 3831 - Stockholders’ option to dissolve corporation | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 234 - Close Corporations (§§ 3821 — 3839) › § 3831 - Stockholders’ option to dissolve corporation | (a) The certificate of incorporation of any close corporation may include a provision granting to any stockholder, or to the holders of any specified number or percentage of shares of any class of stock, an option to have the corporation dissolved at will or upon the occurrence of any specified event or contingency. Wh... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-234/3832/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 234 - Close Corporations (§§ 3821 — 3839)›§ 3832 - Bylaws | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 234 - Close Corporations (§§ 3821 — 3839) › § 3832 - Bylaws | (a) A close corporation need not approve bylaws if the provisions required by law to appear in the bylaws are stated in the certificate of incorporation or in a stockholders’ agreement authorized by § 3829 of this title.
(b) If a corporation does not have bylaws upon termination of its status as a close corporation pur... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-234/3833/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 234 - Close Corporations (§§ 3821 — 3839)›§ 3833 - Limited liability | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 234 - Close Corporations (§§ 3821 — 3839) › § 3833 - Limited liability | The fact that a close corporation does not observe the customary corporate formalities or requirements with respect to its corporate powers or the conduct of its business and affairs is not grounds for imposing personal liability on the stockholders for the liabilities of the corporation.
History —Dec. 16, 2009, No. 16... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-234/3834/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 234 - Close Corporations (§§ 3821 — 3839)›§ 3834 - Voluntary termination of close corporation status; effect of termination | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 234 - Close Corporations (§§ 3821 — 3839) › § 3834 - Voluntary termination of close corporation status; effect of termination | (a) A corporation may voluntarily terminate its status as a close corporation and cease to be subject to this chapter by amending its certificate of incorporation to delete therefrom the additional provisions required or permitted by § 3823 of this title to be stated in the certificate of incorporation of a close corpo... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-234/3835/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 234 - Close Corporations (§§ 3821 — 3839)›§ 3835 - Appointment of a trustee for a close corporation | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 234 - Close Corporations (§§ 3821 — 3839) › § 3835 - Appointment of a trustee for a close corporation | (a) In addition to § 3656 of this title respecting the appointment of a trustee for any corporation, the Court of First Instance (Superior Part), upon petition of any stockholder, may appoint one (1) or more persons to be trustees of a close corporation and, if the corporation is insolvent, as receivers thereof, when:
... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-234/3836/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 234 - Close Corporations (§§ 3821 — 3839)›§ 3836 - Appointment of a provisional director in certain cases | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 234 - Close Corporations (§§ 3821 — 3839) › § 3836 - Appointment of a provisional director in certain cases | (a) Notwithstanding any provision to the contrary in the certificate of incorporation or the bylaws, or in any stockholders’ agreement, the Court of First Instance (Superior Part) may appoint a provisional director for a close corporation if the directors are in such disagreement respecting the business and affairs of ... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-234/3837/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 234 - Close Corporations (§§ 3821 — 3839)›§ 3837 - Special remedy; dissolution | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 234 - Close Corporations (§§ 3821 — 3839) › § 3837 - Special remedy; dissolution | (a) The Court of First Instance (Superior Part) may order the dissolution of the corporation if it finds:
(1) That there exists one (1) or more grounds for the judicial dissolution pursuant to § 3713 of this title, or
(2) all of the other remedies ordered by the court pursuant to §§ 3835 and 3836 of this title have fai... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-234/3838/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 234 - Close Corporations (§§ 3821 — 3839)›§ 3838 - Limitations on continuation of close corporation status | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 234 - Close Corporations (§§ 3821 — 3839) › § 3838 - Limitations on continuation of close corporation status | A close corporation continues to be such and to be subject to this subtitle until:
(a) It files with the Secretary of State a certificate of amendment deleting from its certificate of incorporation the provisions required or permitted by § 3823 of this title to be stated in the certificate of incorporation to qualify i... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-234/3839/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 234 - Close Corporations (§§ 3821 — 3839)›§ 3839 - Involuntary termination of close corporation status; proceeding to prevent loss of ... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 234 - Close Corporations (§§ 3821 — 3839) › § 3839 - Involuntary termination of close corporation status; proceeding to prevent loss of status | (a) If any event occurs resulting in one (1) or more breaches of the provisions or conditions included in the certificate of incorporation of a close corporation pursuant to § 3823(a) of this title and which qualify it as such pursuant to this subtitle, the status of such corporation as a close corporation shall termin... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-235/3851/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 235 - Annual Reports and Obligation to Keep Books and Other Documents in Puerto Rico (§§ 3851 — 3858)›§ 3851 - Domestic corporations; ... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 235 - Annual Reports and Obligation to Keep Books and Other Documents in Puerto Rico (§§ 3851 — 3858) › § 3851 - Domestic corporations; annual reports; books and other documents in Pue... | (a) Every corporation organized under the laws of the Commonwealth shall annually submit at the office of the Department of State, or over the Internet when the service becomes available, not later than the fifteenth (15th) day of April, a report certified, under penalty of perjury, pursuant to subsections (a) and (b) ... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-235/3852/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 235 - Annual Reports and Obligation to Keep Books and Other Documents in Puerto Rico (§§ 3851 — 3858)›§ 3852 - Administrative fines an... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 235 - Annual Reports and Obligation to Keep Books and Other Documents in Puerto Rico (§§ 3851 — 3858) › § 3852 - Administrative fines and penalties for failing to render reports | In the event that a corporation should fail to file the report referred to in § 3851 of this title within the period established by law, or refuses to file or amend it when so ordered by the Secretary of State because it is incomplete or unsatisfactory, or whenever it fails to keep in Puerto Rico the accounting books a... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-235/3853/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 235 - Annual Reports and Obligation to Keep Books and Other Documents in Puerto Rico (§§ 3851 — 3858)›§ 3853 - Foreign corporations; a... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 235 - Annual Reports and Obligation to Keep Books and Other Documents in Puerto Rico (§§ 3851 — 3858) › § 3853 - Foreign corporations; annual reports | Every foreign corporation, whether or not for profit, authorized to do business in Puerto Rico shall annually file with the offices of the Department of State, or over the Internet when the service becomes available, not later than the fifteenth (15th) day of April, a certified report, under penalty of perjury, pursuan... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-235/3854/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 235 - Annual Reports and Obligation to Keep Books and Other Documents in Puerto Rico (§§ 3851 — 3858)›§ 3854 - Penalties; suspension a... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 235 - Annual Reports and Obligation to Keep Books and Other Documents in Puerto Rico (§§ 3851 — 3858) › § 3854 - Penalties; suspension and revocation of authorization | In the event that any foreign corporation fails to file the report required by § 3853 of this title, or refuses to file or amend it when so requested by the Secretary of State because it is incomplete or unsatisfactory, or fails to keep or maintain in Puerto Rico the accounting books and documents and records referred ... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-235/3855/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 235 - Annual Reports and Obligation to Keep Books and Other Documents in Puerto Rico (§§ 3851 — 3858)›§ 3855 - Extensions | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 235 - Annual Reports and Obligation to Keep Books and Other Documents in Puerto Rico (§§ 3851 — 3858) › § 3855 - Extensions | The Secretary of State may grant an extension which shall not exceed ninety (90) days from the term fixed for filing annual reports by domestic and foreign corporations doing business in Puerto Rico; provided it is determined upon application filed on time over the Internet or by filing a written application to the Dep... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-235/3856/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 235 - Annual Reports and Obligation to Keep Books and Other Documents in Puerto Rico (§§ 3851 — 3858)›§ 3856 - Evaluation of corporate... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 235 - Annual Reports and Obligation to Keep Books and Other Documents in Puerto Rico (§§ 3851 — 3858) › § 3856 - Evaluation of corporate records for the issuance of certificates of goo... | The Secretary of State shall use as a basis the annual reports of the five (5) years preceding the request for issuing certificates of good standing to domestic and foreign corporations, whether or not for profit.
Once the certificate of good standing is issued in accordance with the provisions of this section, the Sec... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-235/3857/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 235 - Annual Reports and Obligation to Keep Books and Other Documents in Puerto Rico (§§ 3851 — 3858)›§ 3857 - Exceptions from filing ... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 235 - Annual Reports and Obligation to Keep Books and Other Documents in Puerto Rico (§§ 3851 — 3858) › § 3857 - Exceptions from filing annual reports | The provisions of this chapter shall not be applicable to religious nonprofit corporations.
History —Dec. 16, 2009, No. 164, § 15.07. |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-235/3858/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 235 - Annual Reports and Obligation to Keep Books and Other Documents in Puerto Rico (§§ 3851 — 3858)›§ 3858 - Annual reports, nonprof... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 235 - Annual Reports and Obligation to Keep Books and Other Documents in Puerto Rico (§§ 3851 — 3858) › § 3858 - Annual reports, nonprofit corporations, special requirements | In order for the Department of State to keep a register, active nonprofit corporations, whether domestic and foreign, shall specify in their annual reports to which of the following categories and organization forms they belong:
(a) Categories. —
(1) Social services. — It includes the distribution of clothing, food and... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-236/3871/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 236 - Special Employee-Owned Corporations (§§ 3871 — 3881)›§ 3871 - Organizational procedures for special employee-owned corporations | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 236 - Special Employee-Owned Corporations (§§ 3871 — 3881) › § 3871 - Organizational procedures for special employee-owned corporations | (a) Any corporation or group of natural persons wishing to organize a special employee-owned corporation shall comply with the provisions of this chapter. In order for a special employee-owned corporation to be organized and subject to the provisions of this chapter, it shall state it in its certificate of incorporatio... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-236/3872/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 236 - Special Employee-Owned Corporations (§§ 3871 — 3881)›§ 3872 - Content of the certificate of incorporation | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 236 - Special Employee-Owned Corporations (§§ 3871 — 3881) › § 3872 - Content of the certificate of incorporation | (a) The certificate of incorporation of the special employee-owned corporation shall comply with all the provisions of § 3502(a) of this title and shall also:
(1) Include at the end of its name the acronym “S.E.O.C.”, which shall be part of its name.
(2) The manner that the minimum amount of corporate capital of one th... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-236/3873/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 236 - Special Employee-Owned Corporations (§§ 3871 — 3881)›§ 3873 - Members; certificate of incorporation; contributions by members, r... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 236 - Special Employee-Owned Corporations (§§ 3871 — 3881) › § 3873 - Members; certificate of incorporation; contributions by members, rights and responsibilities | (a) The certificate of incorporation shall establish the conditions required for admitting and removing its members, or it may provide that said conditions shall be consigned in the corporation’s bylaws.
(1) Natural persons who are employed in a corporation organized under this chapter in a corporation organized under ... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-236/3874/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 236 - Special Employee-Owned Corporations (§§ 3871 — 3881)›§ 3874 - Voting rights; bylaws; amendments to the certificate of incorporat... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 236 - Special Employee-Owned Corporations (§§ 3871 — 3881) › § 3874 - Voting rights; bylaws; amendments to the certificate of incorporation | (a) The special corporation organized under this chapter shall not be authorized to issue common stock nor any other voting stock, except the membership certificate, but may issue all other types of stocks and bonds authorized by this chapter.
(b) The membership certificates, all types of stock, corporate bonds, and an... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-236/3875/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 236 - Special Employee-Owned Corporations (§§ 3871 — 3881)›§ 3875 - Proxy or delegate voting | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 236 - Special Employee-Owned Corporations (§§ 3871 — 3881) › § 3875 - Proxy or delegate voting | All regular members shall be empowered to cast their vote personally or through a proxy in all matters on which the members of the corporation are entitled to vote; but no proxy vote may be cast one (1) year after the granting of said proxy, unless a longer period is specifically provided therein. The right of a regula... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-236/3876/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 236 - Special Employee-Owned Corporations (§§ 3871 — 3881)›§ 3876 - Directors and officers | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 236 - Special Employee-Owned Corporations (§§ 3871 — 3881) › § 3876 - Directors and officers | (a) Persons who are not regular members of the special corporation may be appointed to positions as directors thereof, provided they do not exceed one-third (⅓) of the total number of directors.
(b) Not less than two-thirds (⅔) of the officers must be regular members of the corporation employed in the fields of product... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-236/3877/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 236 - Special Employee-Owned Corporations (§§ 3871 — 3881)›§ 3877 - Internal capital accounts; redemption, purchase and withdrawal pri... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 236 - Special Employee-Owned Corporations (§§ 3871 — 3881) › § 3877 - Internal capital accounts; redemption, purchase and withdrawal price of the certificates of membership; collective... | (a) The special corporation organized under the provisions of this chapter shall establish a system of internal capital accounts through which the book value of the capital assets of the corporation, the redemption, purchase, and withdrawal price of the certificates of membership and the corporate capital shares and th... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-236/3878/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 236 - Special Employee-Owned Corporations (§§ 3871 — 3881)›§ 3878 - Undistributed net profits and losses; pro rata; distribution and p... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 236 - Special Employee-Owned Corporations (§§ 3871 — 3881) › § 3878 - Undistributed net profits and losses; pro rata; distribution and payment | (a) The corporation shall keep internal capital accounts for each member. In order to determine the balance of each member in his/her individual account, the losses of the corporation shall be prorated by using the same method that is used to distribute the portion of the profits corresponding to each member. The distr... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-236/3879/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 236 - Special Employee-Owned Corporations (§§ 3871 — 3881)›§ 3879 - Subsidiary corporations; equity in secondary corporations | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 236 - Special Employee-Owned Corporations (§§ 3871 — 3881) › § 3879 - Subsidiary corporations; equity in secondary corporations | (a) The special employee-owned corporation may establish subsidiaries organized under the provisions of this chapter or any other provisions of this subtitle. Special employee-owned corporations that are subsidiaries of nonprofit corporations may also be organized. Profitable corporations may have subsidiaries that are... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-236/3880/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 236 - Special Employee-Owned Corporations (§§ 3871 — 3881)›§ 3880 - Advance of profits | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 236 - Special Employee-Owned Corporations (§§ 3871 — 3881) › § 3880 - Advance of profits | (a) Regular and periodic compensation distributed by the special employee-owned corporation to its full-time regular members for their work in the special corporation shall be deemed as an advance of profits and not as wages or salaries to the effects of labor legislation. Advance of profits shall not be distributed to... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-236/3881/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 236 - Special Employee-Owned Corporations (§§ 3871 — 3881)›§ 3881 - Extinction of corporate existence; merger or consolidation with ot... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 236 - Special Employee-Owned Corporations (§§ 3871 — 3881) › § 3881 - Extinction of corporate existence; merger or consolidation with other corporations prohibited | (a) The corporation shall cease to exist:
(1) On the date established in the certificate of incorporation when its extinction is stated therein;
(2) when it is absorbed by another corporation by merger or consolidation, pursuant to the provisions of this chapter; Provided, That a special employee-owned corporation shal... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-237/3901/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 237 - Fees Payable (§§ 3901 — 3903)›§ 3901 - Fees payable to the Department of State for filing certificates or other documents | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 237 - Fees Payable (§§ 3901 — 3903) › § 3901 - Fees payable to the Department of State for filing certificates or other documents | (a) The Secretary of State shall charge and collect the following fees which shall be paid through different electronic payment means when transactions are conducted over the Internet, and through internal revenue vouchers when transactions are conducted in the offices of the Department of State:
(1) For filing the ori... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-237/3902/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 237 - Fees Payable (§§ 3901 — 3903)›§ 3902 - Authority of the Secretary of State to modify fees payable | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 237 - Fees Payable (§§ 3901 — 3903) › § 3902 - Authority of the Secretary of State to modify fees payable | The Secretary of State may, by circular letter or administrative order, modify the fees payable fees pursuant to § 3901 of this title.
History —Dec. 16, 2009, No. 164, § 17.02. |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-237/3903/1/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 237 - Fees Payable (§§ 3901 — 3903)›§ 3903 - Distribution of funds generated by fees payable, special account of the Department of Sta... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 237 - Fees Payable (§§ 3901 — 3903) › § 3903 - Distribution of funds generated by fees payable, special account of the Department of State and General Fund (§ 3903) › 1 | It is hereby provided that, through June 30, 2016, forty percent (40%) of the sums collected on account of the fees established in this chapter, shall be covered into a special account of the Department of State, which shall be used to update and carry out improvements in the divisions of the Registry of Corporations a... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-237/3903/2/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 237 - Fees Payable (§§ 3901 — 3903)›§ 3903 - Distribution of funds generated by fees payable, special account of the Department of Sta... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 237 - Fees Payable (§§ 3901 — 3903) › § 3903 - Distribution of funds generated by fees payable, special account of the Department of State and General Fund (§ 3903) › 2 | It is hereby provided that, during the first five (5) years as of the effective date of this act, forty percent (40%) of the sums collected on account of the fees established in this chapter, shall be covered into a special account of the Department of state, which shall be used to update and carry out improvements in ... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-237/3903/3/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 237 - Fees Payable (§§ 3901 — 3903)›§ 3903 - Distribution of funds generated by fees payable, special account of the Department of Sta... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 237 - Fees Payable (§§ 3901 — 3903) › § 3903 - Distribution of funds generated by fees payable, special account of the Department of State and General Fund (§ 3903) › 3 | It is hereby provided that, during the first five (5) years as of the effective date of this act, forty percent (40%) of the sums collected on account of the fees established in this chapter, shall be covered into a special account of the Department of state, which shall be used to update and carry out improvements in ... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-238/3921/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 238 - Professional Corporations (§§ 3921 — 3938)›§ 3921 - Legislative intent | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 238 - Professional Corporations (§§ 3921 — 3938) › § 3921 - Legislative intent | It is the purpose of this chapter to provide for the incorporation of an individual, or group of individuals, who render the same professional service to the public for which service such individuals are required by law to obtain a license or other legal authorization.
History —Dec. 16, 2009, No. 164, § 18.01. |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-238/3922/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 238 - Professional Corporations (§§ 3921 — 3938)›§ 3922 - Definitions | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 238 - Professional Corporations (§§ 3921 — 3938) › § 3922 - Definitions | As used in this chapter, the following words shall have the meaning stated below:
(a) Professional service. — Shall mean any type of personal service to the public which by law, regulation or jurisprudence could not be effected by a corporation before the effective date of this act and for which the obtaining of a lice... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-238/3923/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 238 - Professional Corporations (§§ 3921 — 3938)›§ 3923 - Authority to incorporate | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 238 - Professional Corporations (§§ 3921 — 3938) › § 3923 - Authority to incorporate | One (1) or more persons may, each of whom are duly licensed or otherwise legally authorized to render the same professional services in the Commonwealth, under the provisions of this chapter, incorporate and become a stockholder or stockholders of a professional corporation for profit, for the sole and specific purpose... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-238/3924/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 238 - Professional Corporations (§§ 3921 — 3938)›§ 3924 - Number of directors; officers | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 238 - Professional Corporations (§§ 3921 — 3938) › § 3924 - Number of directors; officers | The determination of the number of directors and officers of a professional corporation shall be governed by §§ 3561 and 3562 of this title.
History —Dec. 16, 2009, No. 164, § 18.04. |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-238/3925/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 238 - Professional Corporations (§§ 3921 — 3938)›§ 3925 - Rendition of professional services through licensed officers, employees, and... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 238 - Professional Corporations (§§ 3921 — 3938) › § 3925 - Rendition of professional services through licensed officers, employees, and agents | No corporation organized and incorporated under this chapter may render professional services, except through officers, employees, and agents who are duly licensed or otherwise legally authorized to render such professional services within this jurisdiction. However, this provision shall not be interpreted to include w... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-238/3926/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 238 - Professional Corporations (§§ 3921 — 3938)›§ 3926 - Scope and responsibilities of professional relationship; legal liabilities; ... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 238 - Professional Corporations (§§ 3921 — 3938) › § 3926 - Scope and responsibilities of professional relationship; legal liabilities; standards for professional conduct; negligence; ... | Nothing contained in this chapter shall be interpreted to abolish, repeal, modify, restrict or limit the law now in effect in this jurisdiction, applicable to the professional relationship and the contract, tort, and other legal liabilities between the person furnishing the professional services and the person receivin... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-238/3927/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 238 - Professional Corporations (§§ 3921 — 3938)›§ 3927 - Engaging in another business prohibited | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 238 - Professional Corporations (§§ 3921 — 3938) › § 3927 - Engaging in another business prohibited | No corporation organized under this chapter may engage in another business which is not the rendering of the professional services for which it was incorporated, or the auxiliary or complementary services thereto; Provided, however, That nothing contained in this subtitle, or in any other provision of law applicable to... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-238/3928/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 238 - Professional Corporations (§§ 3921 — 3938)›§ 3928 - Issuance of capital stock to licensed individuals; voting trust agreements p... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 238 - Professional Corporations (§§ 3921 — 3938) › § 3928 - Issuance of capital stock to licensed individuals; voting trust agreements prohibited; holding of stock by shareholder’s est... | No corporation, organized under this chapter, may issue any of its capital stock to anyone other than an individual who is duly licensed or otherwise legally authorized to render the same specific professional services as those for which the corporation was incorporated. No shareholder of a corporation, organized under... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-238/3929/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 238 - Professional Corporations (§§ 3921 — 3938)›§ 3929 - Disqualification of officer, shareholder, agent or employee | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 238 - Professional Corporations (§§ 3921 — 3938) › § 3929 - Disqualification of officer, shareholder, agent or employee | If any officer, employee, agent or shareholder of a corporation, organized under this chapter, becomes legally disqualified to render such professional services within this jurisdiction, or either (i) is elected to a public office that, or (ii) accepts employment that, pursuant to existing law, places restrictions or l... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-238/3930/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 238 - Professional Corporations (§§ 3921 — 3938)›§ 3930 - Sale or transfer of shares | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 238 - Professional Corporations (§§ 3921 — 3938) › § 3930 - Sale or transfer of shares | Except as provided in § 3934 of this title, no shareholder of a corporation, organized under this chapter, may sell or transfer such shareholder’s shares in the corporation, except to the corporation, or to another individual who is eligible to be a shareholder of such corporation. Provided, That the sale or transfer m... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-238/3931/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 238 - Professional Corporations (§§ 3921 — 3938)›§ 3931 - Price of shares | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 238 - Professional Corporations (§§ 3921 — 3938) › § 3931 - Price of shares | If the certificate of incorporation or bylaws of a professional corporation do not set a price at which the professional corporation or its stockholders may purchase the shares of a deceased, retired, expelled or disqualified stockholder, and if the certificate of incorporation or bylaws do not otherwise provide, the p... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-238/3932/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 238 - Professional Corporations (§§ 3921 — 3938)›§ 3932 - Perpetual corporate existence | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 238 - Professional Corporations (§§ 3921 — 3938) › § 3932 - Perpetual corporate existence | A corporation organized under the provisions of this chapter shall have perpetual existence until dissolved in accordance with the provisions of this chapter.
History —Dec. 16, 2009, No. 164, § 18.12. |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-238/3933/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 238 - Professional Corporations (§§ 3921 — 3938)›§ 3933 - Transfer of shares upon death or disqualification | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 238 - Professional Corporations (§§ 3921 — 3938) › § 3933 - Transfer of shares upon death or disqualification | (a) In the event of death. — The shares of a decedent stockholder shall be transferred to his/her heirs by the mere fact of his death, to the surviving spouse if a conjugal partnership existed, the community property portion, and in every case the spousal usufructuary portion.
The stockholders of the corporation, the h... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-238/3934/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 238 - Professional Corporations (§§ 3921 — 3938)›§ 3934 - Corporate name | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 238 - Professional Corporations (§§ 3921 — 3938) › § 3934 - Corporate name | The corporate name of a corporation organized under the provisions of this chapter shall include the words “professional corporation” or the abbreviations “C. S. P.”, “P. S. C.”, “C. P.” or “P. C.”. The corporate name may include a word or words describing the professional service to be rendered by such corporation. Th... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-238/3935/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 238 - Professional Corporations (§§ 3921 — 3938)›§ 3935 - Applicability of this subtitle; consolidation or merger of corporations; ann... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 238 - Professional Corporations (§§ 3921 — 3938) › § 3935 - Applicability of this subtitle; consolidation or merger of corporations; annual report | This subtitle shall be applicable to corporations organized in accordance with this chapter, except to the extent that any of the provisions thereof are interpreted to be in conflict with the provisions of this chapter, and in such case the provisions and sections of this chapter shall take precedence with respect to c... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-238/3936/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 238 - Professional Corporations (§§ 3921 — 3938)›§ 3936 - Conversion into a business corporation | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 238 - Professional Corporations (§§ 3921 — 3938) › § 3936 - Conversion into a business corporation | Whenever all stockholders of a corporation organized under this chapter, at any time and for any reason, cease to be licensed, certified or registered in the profession for which such corporation was organized, the corporation shall thereupon be treated as converted into and shall operate henceforth solely as a busines... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-238/3937/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 238 - Professional Corporations (§§ 3921 — 3938)›§ 3937 - Construction of chapter | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 238 - Professional Corporations (§§ 3921 — 3938) › § 3937 - Construction of chapter | This chapter shall not be construed as repealing, modifying or restricting the applicable provisions of law relating to sales of securities, or regulating the several professions enumerated in this chapter, except insofar as such laws conflict with this subtitle.
History —Dec. 16, 2009, No. 164, § 18.17. |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-238/3938/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 238 - Professional Corporations (§§ 3921 — 3938)›§ 3938 - Shareholders of a professional corporation | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 238 - Professional Corporations (§§ 3921 — 3938) › § 3938 - Shareholders of a professional corporation | The shareholders of a professional corporation shall be deemed as industrial partners of a partnership constituted through a public deed for all purposes of §§ 1 et seq. of Title 11, and §§ 701 et seq. of Title 29.
History —Dec. 16, 2009, No. 164, § 18.18. |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-239/subchapter-a/3951/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 239 - Limited Liability Companies (§§ 3951 — 4006)›Subchapter A - General Provisions (§§ 3951 — 3967)›§ 3951 - Definitions | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 239 - Limited Liability Companies (§§ 3951 — 4006) › Subchapter A - General Provisions (§§ 3951 — 3967) › § 3951 - Definitions | For the purposes of this chapter, the following terms and phrases shall have the meaning stated hereinafter, unless another meaning arises from the context:
(a) Manager.— Means a person who is appointed manager of a limited liability company or designated as manager of a limited liability company under a limited liabil... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-239/subchapter-a/3952/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 239 - Limited Liability Companies (§§ 3951 — 4006)›Subchapter A - General Provisions (§§ 3951 — 3967)›§ 3952 - Name as set forth in th... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 239 - Limited Liability Companies (§§ 3951 — 4006) › Subchapter A - General Provisions (§§ 3951 — 3967) › § 3952 - Name as set forth in the certificate | The name of every limited liability company as set forth in its certificate of formation:
(1) Shall contain the terms Limited Liability Company or Compañía de Responsabilidad Limitada or the abbreviation L.L.C. or C.R.L., or the designation LLC or CRL. For an L.P.L.L.C., it shall contain the terms a Low-Profit Limited ... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-239/subchapter-a/3953/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 239 - Limited Liability Companies (§§ 3951 — 4006)›Subchapter A - General Provisions (§§ 3951 — 3967)›§ 3953 - Reservation of name | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 239 - Limited Liability Companies (§§ 3951 — 4006) › Subchapter A - General Provisions (§§ 3951 — 3967) › § 3953 - Reservation of name | The name of a limited liability company may be reserved pursuant to the provisions of § 3502 of this title.
History —Dec. 16, 2009, No. 164, § 19.03. |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-239/subchapter-a/3954/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 239 - Limited Liability Companies (§§ 3951 — 4006)›Subchapter A - General Provisions (§§ 3951 — 3967)›§ 3954 - Registered office and r... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 239 - Limited Liability Companies (§§ 3951 — 4006) › Subchapter A - General Provisions (§§ 3951 — 3967) › § 3954 - Registered office and registered agent | Every limited liability company shall have and maintain a registered office and a registered agent in Puerto Rico, pursuant to the provisions of Chapter 223 of this subtitle.
History —Dec. 16, 2009, No. 164, § 19.04. |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-239/subchapter-a/3955/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 239 - Limited Liability Companies (§§ 3951 — 4006)›Subchapter A - General Provisions (§§ 3951 — 3967)›§ 3955 - Service of process | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 239 - Limited Liability Companies (§§ 3951 — 4006) › Subchapter A - General Provisions (§§ 3951 — 3967) › § 3955 - Service of process | The service of process to a limited liability company shall be carried out pursuant to the provisions of Chapter 232 of this subtitle.
History —Dec. 16, 2009, No. 164, § 19.05. |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-239/subchapter-a/3956/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 239 - Limited Liability Companies (§§ 3951 — 4006)›Subchapter A - General Provisions (§§ 3951 — 3967)›§ 3956 - Nature of businesses pe... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 239 - Limited Liability Companies (§§ 3951 — 4006) › Subchapter A - General Provisions (§§ 3951 — 3967) › § 3956 - Nature of businesses permitted; powers | (a) A limited liability company may be established under this chapter to carry out or promote any lawful business or purpose, whether or not for profit, except those proscribed by the Constitution and the laws of the Commonwealth. Likewise, a limited liability company and its members may exercise the powers listed in C... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-239/subchapter-a/3957/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 239 - Limited Liability Companies (§§ 3951 — 4006)›Subchapter A - General Provisions (§§ 3951 — 3967)›§ 3957 - Loans to a member or ma... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 239 - Limited Liability Companies (§§ 3951 — 4006) › Subchapter A - General Provisions (§§ 3951 — 3967) › § 3957 - Loans to a member or manager | Except as otherwise provided in a limited liability company agreement, a member or manager may lend money to, borrow money from, act as a surety, guarantor or endorser for, guarantee or assume one (1) or more obligations of, provide collateral for, and transact other business with, a limited liability company and, subj... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-239/subchapter-a/3958/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 239 - Limited Liability Companies (§§ 3951 — 4006)›Subchapter A - General Provisions (§§ 3951 — 3967)›§ 3958 - Indemnification | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 239 - Limited Liability Companies (§§ 3951 — 4006) › Subchapter A - General Provisions (§§ 3951 — 3967) › § 3958 - Indemnification | Subject to the provisions of § 3568 of this title, and to the standards and restrictions, if any, set forth in its limited liability company agreement, a limited liability company may, and shall have the power to, indemnify and hold harmless any member or manager or other person from and against any and all claims and ... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-239/subchapter-a/3959/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 239 - Limited Liability Companies (§§ 3951 — 4006)›Subchapter A - General Provisions (§§ 3951 — 3967)›§ 3959 - Service of process on m... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 239 - Limited Liability Companies (§§ 3951 — 4006) › Subchapter A - General Provisions (§§ 3951 — 3967) › § 3959 - Service of process on managers and liquidating trustee | The service of process on managers or trustee shall be conducted pursuant to the provisions of Chapter 232 of this subtitle.
History —Dec. 16, 2009, No. 164, § 19.09. |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-239/subchapter-a/3960/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 239 - Limited Liability Companies (§§ 3951 — 4006)›Subchapter A - General Provisions (§§ 3951 — 3967)›§ 3960 - Contested matters relat... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 239 - Limited Liability Companies (§§ 3951 — 4006) › Subchapter A - General Provisions (§§ 3951 — 3967) › § 3960 - Contested matters relating to managers; contested votes | (a) Upon application of any member or manager, the Court of First Instance may hear and determine the validity of any admission, election, appointment, removal or resignation of a manager of a limited liability company, and the right of any person to become or continue to be a manager of a limited liability company, an... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-239/subchapter-a/3961/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 239 - Limited Liability Companies (§§ 3951 — 4006)›Subchapter A - General Provisions (§§ 3951 — 3967)›§ 3961 - Interpretation and enfo... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 239 - Limited Liability Companies (§§ 3951 — 4006) › Subchapter A - General Provisions (§§ 3951 — 3967) › § 3961 - Interpretation and enforcement of agreement | Any action to interpret, apply or enforce the provisions of a limited liability company agreement, or the duties, obligations or liabilities of a limited liability company to the members or managers of the limited liability company, or the duties, obligations or liabilities among members or managers and of members or m... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-239/subchapter-a/3962/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 239 - Limited Liability Companies (§§ 3951 — 4006)›Subchapter A - General Provisions (§§ 3951 — 3967)›§ 3962 - Certificate of formatio... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 239 - Limited Liability Companies (§§ 3951 — 4006) › Subchapter A - General Provisions (§§ 3951 — 3967) › § 3962 - Certificate of formation | In order to form a limited liability company, one (1) or more authorized persons shall execute a certificate of formation.
The execution, acknowledgement, filing and registration of the certificate of formation, as well as the amendment, cancellation, reaffirmation and revival of the corporate existence of a limited li... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-239/subchapter-a/3963/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 239 - Limited Liability Companies (§§ 3951 — 4006)›Subchapter A - General Provisions (§§ 3951 — 3967)›§ 3963 - Merger or consolidation | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 239 - Limited Liability Companies (§§ 3951 — 4006) › Subchapter A - General Provisions (§§ 3951 — 3967) › § 3963 - Merger or consolidation | The merger or consolidation of any limited liability company with other domestic or foreign business entity shall be conducted pursuant to the procedure set forth for corporations in Chapter 230 of this subtitle.
History —Dec. 16, 2009, No. 164, § 19.13. |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-239/subchapter-a/3964/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 239 - Limited Liability Companies (§§ 3951 — 4006)›Subchapter A - General Provisions (§§ 3951 — 3967)›§ 3964 - Domestication of non-Un... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 239 - Limited Liability Companies (§§ 3951 — 4006) › Subchapter A - General Provisions (§§ 3951 — 3967) › § 3964 - Domestication of non-United States entities | (a) As used in this section, “non-United States entity” means a foreign limited liability company (other than one formed under the laws of a State) or a corporation, a business trust or association, a real estate investment trust, or any other unincorporated business, including a partnership (be it general, including a... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-239/subchapter-a/3965/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 239 - Limited Liability Companies (§§ 3951 — 4006)›Subchapter A - General Provisions (§§ 3951 — 3967)›§ 3965 - Transfer or continuance | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 239 - Limited Liability Companies (§§ 3951 — 4006) › Subchapter A - General Provisions (§§ 3951 — 3967) › § 3965 - Transfer or continuance | (a) Upon compliance with this section, any limited liability company may transfer to or domesticate in any jurisdiction other than any state, which allows the transfer to or the domestication in such jurisdiction of a limited liability company and, in connection therewith, may elect to continue its existence as a limit... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-239/subchapter-a/3966/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 239 - Limited Liability Companies (§§ 3951 — 4006)›Subchapter A - General Provisions (§§ 3951 — 3967)›§ 3966 - Conversion of certain e... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 239 - Limited Liability Companies (§§ 3951 — 4006) › Subchapter A - General Provisions (§§ 3951 — 3967) › § 3966 - Conversion of certain entities | (a) As used in this section, the term “other entity” means a domestic or foreign corporation, a statutory trust, a business trust or an association, a real estate investment trust, or any other unincorporated business, including a partnership (whether general, including a limited liability partnership) or limited (incl... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-239/subchapter-a/3967/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 239 - Limited Liability Companies (§§ 3951 — 4006)›Subchapter A - General Provisions (§§ 3951 — 3967)›§ 3967 - Series of members, mana... | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 239 - Limited Liability Companies (§§ 3951 — 4006) › Subchapter A - General Provisions (§§ 3951 — 3967) › § 3967 - Series of members, managers, limited liability company interests | (a) A limited liability company agreement may establish or provide for the establishment of series of members, managers or limited liability company interests which shall have separate rights, powers or duties with respect to specified properties or obligations of the limited liability company or profits or losses asso... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-239/subchapter-i/3968/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 239 - Limited Liability Companies (§§ 3951 — 4006)›Subchapter I - Members (§§ 3968 — 3971)›§ 3968 - Admission of members | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 239 - Limited Liability Companies (§§ 3951 — 4006) › Subchapter I - Members (§§ 3968 — 3971) › § 3968 - Admission of members | (a) In connection with the formation of an LLC, a person is admitted as a member of the LLC upon the later to occur of:
(1) The formation of the LLC, or
(2) the time provided in and upon compliance with the LLCA or, if the LLCA does not so provide, when the person’s admission is reflected in the records of the LLC.
(b)... |
https://law.justia.com/codes/puerto-rico/title-fourteen/subtitle-5/chapter-239/subchapter-i/3968a/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FOURTEEN - Private Corporations (§§ 1 — 4084)›Subtitle 5 - General Corporations Act (2009)›Chapter 239 - Limited Liability Companies (§§ 3951 — 4006)›Subchapter I - Members (§§ 3968 — 3971)›§ 3968a - Classes and voting | 2023 Laws of Puerto Rico › TITLE FOURTEEN - Private Corporations (§§ 1 — 4084) › Subtitle 5 - General Corporations Act (2009) › Chapter 239 - Limited Liability Companies (§§ 3951 — 4006) › Subchapter I - Members (§§ 3968 — 3971) › § 3968a - Classes and voting | (a) An LLCA may provide for classes or groups of members having such rights, powers and duties as the LLCA may provide, and may make provision for the future creation of additional classes or groups of members having such rights, powers and duties as may from time to time be established, including rights, powers and du... |
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